Tag Archives: Sanborn Map

A Nor’easter is coming my way (up to two to three feet of snow with high winds) so I may be out of contact for two or three days. But push on we must. We continue to study Chapter 3, in Deep Value and Buffett’s investing career.

It’s not entirely clear what will happen in the near term, but the financial markets are already pushed to extremes by central-bank induced speculation. With speculators massively short the now steeply-depressed euro and yen, with equity margin debt still near record levels in a market valued at more than double its pre-bubble norms on historically reliable measures, and with several major European banks running at gross leverage ratios comparable to those of Bear Stearns and Lehman before the 2008 crisis, we’re seeing an abundance of what we call “leveraged mismatches” – a preponderance one-way bets, using borrowed money, that permeates the entire financial system. With market internals and credit spreads behaving badly, while Treasury yields, oil and industrial commodity prices slide in a manner consistent with abrupt weakening in global economic activity, we can hardly bear to watch.. John Hussman, Jan. 26, 2015 www.hussmanfunds.com

“We are what we repeatedly do. Excellence then, is not an act, but a habit.”–Aristotle

My Black Ops Ninja team was able to crack Buffett’s safe in Omaha and bring back these case studies for your enlightenment and study. Mr. Buffett was found passed out on his desk from a Cherry Coke drinking binge. This video was running on his TV: http://www.youtube.com/watch?v=-0PrTkE5jG4&feature=related Mr. Buffett is preparing for this weekend’s Buffett Lovefest.